Beacon Pointe Advisors LLC Has $1.55 Million Stock Position in Sysco Co. (NYSE:SYY)

Beacon Pointe Advisors LLC decreased its stake in Sysco Co. (NYSE:SYYGet Rating) by 63.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,344 shares of the company’s stock after selling 31,364 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Sysco were worth $1,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cetera Investment Advisers lifted its holdings in shares of Sysco by 2.9% during the 2nd quarter. Cetera Investment Advisers now owns 22,787 shares of the company’s stock valued at $1,930,000 after buying an additional 648 shares during the last quarter. Cetera Advisors LLC boosted its stake in Sysco by 54.7% in the 2nd quarter. Cetera Advisors LLC now owns 34,453 shares of the company’s stock valued at $2,919,000 after buying an additional 12,184 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in Sysco by 9.0% in the second quarter. Checchi Capital Advisers LLC now owns 6,387 shares of the company’s stock worth $542,000 after purchasing an additional 525 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Sysco by 22.5% in the second quarter. King Luther Capital Management Corp now owns 51,665 shares of the company’s stock worth $4,377,000 after purchasing an additional 9,474 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in Sysco by 15.8% in the second quarter. Bridgewater Associates LP now owns 1,680,731 shares of the company’s stock worth $142,375,000 after purchasing an additional 228,697 shares in the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYY. Argus boosted their target price on Sysco from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 18th. Credit Suisse Group dropped their target price on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th. Barclays dropped their target price on Sysco from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Finally, Stephens assumed coverage on Sysco in a report on Thursday, September 22nd. They issued an “overweight” rating and a $90.00 price objective for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

Sysco Stock Down 0.2 %

Shares of Sysco stock opened at $86.06 on Thursday. Sysco Co. has a 1 year low of $68.05 and a 1 year high of $91.53. The business has a 50-day moving average of $79.14 and a two-hundred day moving average of $82.22. The company has a market capitalization of $43.61 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 9.20, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $1.96 annualized dividend and a dividend yield of 2.28%. Sysco’s dividend payout ratio is currently 69.50%.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 12,000 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares of the company’s stock, valued at $3,479,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Greg D. Bertrand sold 12,000 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares of the company’s stock, valued at $3,479,135. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Hourican sold 75,019 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $81.22, for a total value of $6,093,043.18. Following the completion of the sale, the chief executive officer now directly owns 303,643 shares of the company’s stock, valued at $24,661,884.46. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

Sysco Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

See Also

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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